BNZ – BusinessNZ
Performance of
Services Index

On a High – PSI

14 Dec, 2015
59.8
November
+3.3
expanding
faster rate

Activity in New Zealand’s services sector rose to its highest level since November 2007, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

The PSI for November was 59.8.  This was 3.3 points higher than October, and also up from September’s strong result (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining).

BusinessNZ chief executive Phil O’Reilly said that with November’s result being close to the 60 point mark, it adds to what has been a very healthy level of expansion in the sector over the last six months.

“Above all, the key indicators of activity/sales (62.3) and new orders/business (64.2) have consistently remained in healthy territory, which has flowed through into the overall result”.

“The proportion of positive comments in November (71.0%) experienced a sizeable lift from both October (61.8%) and September (65.8%).  For those who stipulated positive influences, some seasonal patterns were obviously at play, but general comments centred on a steady stream of activity and opportunities for growth”.

Regarding the November result BNZ Senior Economist Craig Ebert said “If the RBNZ needed any reassurance that the economy has a great lot going for it, then November’s Performance of Services Index (PSI) has given it in spades.”

BNZ - BusinessNZ PSI

Time Series Data

View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PSI

Services Landscape

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Craig Ebert

Craig Ebert

Senior Economist, BNZ

Sponsor Statement

BNZ is delighted to be associated with the Performance of Services Index (PSI) and BusinessNZ.

This association brings together the significant experience of leading business advocacy body BusinessNZ, and business finance specialist BNZ.

We look forward to continuing our association with BusinessNZ and associated regional organisations, and to playing our part in the ongoing development of the New Zealand service sector.

PSI Time Series Table

The results are seasonally adjusted.

National Indicies Nov
2014
Jul
2015
Aug
2015
Sep
2015
Oct
2015
Nov
2015
BNZ – BusinessNZ PSI 54.4 56.6 58.3 59.2 56.5 59.8
Activity/Sales 55.9 60.4 61.5 62.8 57.4 62.3
Employment 53.0 53.7 53.8 53.5 53.2 55.1
New Orders/Business 55.8 60.5 64.0 63.2 56.8 64.2
Stocks/Inventories 53.0 51.6 53.0 57.0 56.3 56.9
Supplier Deliveries 52.5 54.4 55.5 55.3 56.1 57.7

BNZ – BusinessNZ PSI Time Series

November 2011 – November 2015

International Results

J.P. Morgan Global Manufacturing PSITM

03 Dec 2015
54.1

About the PSI

The BNZ – BusinessNZ Performance of Services Index is a monthly survey of the service sector providing an early indicator of activity levels.

A PSI reading above 50 points indicates service activity is expanding; below 50 indicates it is contracting.

The main PSI and sub-index results are seasonally adjusted.

PSI Releases

Uplift – PSI

Expansion levels for New Zealand's services sector saw a sizeable uplift in August, according to the BNZ - BusinessNZ Performance of Services Index (PSI).The PSI for August was 58.6 (A PSI reading above 50.0 indicates that the service sector is generally expanding;...

Easing off – PSI

Expansion levels for New Zealand's services sector decreased in July, according to the BNZ - BusinessNZ Performance of Services Index (PSI).The PSI for July was 51.2 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it...

Consistent service – PSI

Activity levels for New Zealand’s services sector in June displayed almost identical levels to last month, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

Upwards momentum – PSI

Activity levels in New Zealand’s services sector displayed upwards momentum during May, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

Evening out – PSI

Activity levels in New Zealand’s services sector during April were almost identical to March, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

BNZ – BusinessNZ
Performance of
Composite Index

The seasonally adjusted BNZ – BusinessNZ Performance of Composite Index or PCI (which combines the PMI and PSI) saw the two options for measuring the PCI both experience a higher level of expansion for November.

The GDP-Weighted Index (58.7) increased 2.8 points, while the Free-Weighted Index (56.8) rose 2.5 points. The fact that both the PMI and PSI improved over November meant a corresponding lift in both measures of the PCI.

PCI Time Series Table

The results are seasonally adjusted.

National Indicies Nov
2014
Jul
2015
Aug
2015
Sep
2015
Oct
2015
Nov
2015
GDP-Weighted Index 54.0 56.1 57.9 58.5 55.9 58.7
Free-Weighted Index 54.0 55.8 57.1 57.4 54.3 56.8

BNZ – BusinessNZ PCI Time Series

November 2011 – November 2015

About the PCI

The BNZ – BusinessNZ Performance of Composite Index (PCI) takes into account results from both the Performance of Manufacturing Index (PMI) and the Performance of Services Index (PSI). Combined results are shown in two ways:

GDP-Weighted Index:
Apportions the weight of the manufacturing and services index within the economy to produce an overall result.

Free-Weighted Index:
Combines data from both indexes to produce an overall result.

Both time series for the PCI are then seasonally adjusted.

BNZ - BusinessNZ PCI

Time Series Data

View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PCI

Our Contributors

The BNZ – BusinessNZ PSI contains data obtained through BusinessNZ’s regional organisations